Case Study –Limited Company with Foreign Income – Second Home Purchase

Value £4,000,000
Loan £2,000,000
LTV 50%
Achieved Rate 1.19%
Term 5-year fixed

The Client

Our client had found his dream country home, located on the coast in SE England. The house was in excess of £2.7m, with costs. He was also planning to undertake a full refurbishment of his London home, and required a loan in the region of £4.56m, to fund the purchase and renovation of both properties. Our client is an entrepreneur who also runs his own company, with income sources from the US and Singapore. He had initially approached a bank directly, however, they were unable to assist as the currency on his account was in dollars. For many lenders, they are unable to take into account any income originating in different currencies on the accounts.